Bitcoin, Coinbase, Peloton, Kohl’s: What to Watch in the Stock Market Today

Wall Street stock indexes fell in morning trading as investors prepared for a meeting of Federal Reserve policy makers and earnings from big technology companies.

• Cryptocurrencies were broadly lower, with bitcoin down 8.3% from its Friday 5 p.m. ET level, and crypto stocks were dropping along with them, including crypto exchange

  Coinbase

  
  COIN -13.71%
  

  and bitcoin miners

  Riot Blockchain

  
  RIOT -11.44%
  

  and

  Marathon Digital.

  
  MARA -9.41%
  

• An activist investor wants

  Peloton Interactive

  
  PTON 2.26%
  

  to fire its chief executive and explore a sale after its stock plummeted more than 80% from its high, as growth slowed.

• Oil-field-services company

  Halliburton

  
  HAL -3.59%
  

  swung to a profit in the fourth quarter as revenue grew in North America and internationally.

• In a letter, Engine Capital urged

  Kohl’s

  
  KSS 32.77%
  

  to run a sale process following Starboard Value’s bid, as activists remain unsatisfied with the pace of the department-store chain’s turnaround.

• RBC Capital lifted its rating on

  Comcast

  
  CMCSA 1.41%
  

  shares to “outperform” and gave the stock a price target of $60. It closed on Friday at $49.73.

• Activist hedge fund Trian Fund Management bought a stake in packaged-food and consumer-goods company

  Unilever

  
  UL 7.56%
  

  in the wake of its failed bid for part of GlaxoSmithKline. 

• Reuters reported that U.K. telecom

  Vodafone Group

  
  VOD 5.77%
  

  is in talks with Iliad to combine their units in Italy.

• IBM,

  
  IBM -2.45%
  

  Crane

  
  CR -2.21%
  

  and

  Brown & Brown

  are among the companies reporting earnings after Monday’s close.

Chart of the Day

• The financial industry has spotted an opportunity to make money by helping people feel good about themselves. But these investments don’t do much to make the world a better place, writes James Mackintosh in the first in a series of Streetwise columns about funds guided by environmental, social and governance principles, known as ESG.

Write to James Willhite at james.willhite@wsj.com

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